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Health & Welfare Plans Newsletter
March 15, 2021
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9 Jobs Today (scroll to view)
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[Guidance Overview]
COBRA Subsidies (Finally) Arrive
"Employers will have to identify Assistance Eligible Individuals, keeping in mind that they may not have historically reported to their COBRA administrators (or multi-employer plans) whether an individual's termination of employment was voluntary or involuntary." MORE >>
Foley & Lardner LLP
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[Guidance Overview]
COBRA Subsidies Under the American Rescue Plan Act of 2021
"In 2009, Congress adopted a COBRA subsidy that was originally scheduled to last for 9 months, and was later extended to 15 months. Be prepared for the ARPA COBRA subsidy to be extended." MORE >>
Husch Blackwell
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[Guidance Overview]
American Rescue Plan Act and the COBRA Subsidy -- Déjà Vu All Over Again
"This COBRA premium assistance applies to group health plans subject to [ERISA] or the Public Health Service Act. This means it does not apply, for example, to self-insured church plans.... [N]ew notices with respect to the premium assistance available to assistance eligible individuals ... must be delivered within 60 days after April 1, 2021, or prior to May 31, 2021." MORE >>
Jackson Walker
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[Guidance Overview]
American Rescue Plan Act: Changes to Dependent Care and Paid Sick Leave
"The credit for paid sick leave under the [FFCRA] is extended for absences and paid leaves provided by employers in 2021.... The paid sick leave credit applies even though the mandate to provide paid sick leave under the FFCRA has expired." MORE >>
Jackson Walker
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[Guidance Overview]
The American Rescue Plan Act Extends FFCRA Tax Credit, But Not the Mandate
"[ARPA] does not mandate employers provide COVID-19 related leave and continues to limit the tax credit to employers covered by the FFCRA (which for private employers, means employers with less than 500 employees)." MORE >>
Jackson Lewis P.C.
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[Guidance Overview]
IRS Guidance on Flexible Spending Accounts: Good News for Participants But Administrative Challenges for Plan Sponsors
"Plan sponsors should: [1] Determine how many participants have balances remaining in their FSAs as of the end of the 2020 plan year and the dollar amount of the balances.... [2] [Determine] whether there are any limitations on the TPA's ability to accommodate the changes that the employer is considering." MORE >>
Dickinson Wright PLLC
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[Guidance Overview]
Oregon's Paid Family and Medical Leave Contributions Begin in 2022
"The 2022 rate has not been set yet. Employers with 25 or more employees must contribute 40% of the total rate; employees contribute 60%, but employers can choose to pay some or all of employees' share." MORE >>
Mercer
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[Guidance Overview]
ARPA and the Health Insurance Marketplace
"The new law will lower premiums for most people who currently have a Marketplace health plan and expand access to financial assistance for more consumers.... Premiums after these new savings will decrease, on average, by $50 per person per month or by $85 per policy per month" MORE >>
Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]
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[Guidance Overview]
Paid Leave Tax Credits Under the American Rescue Plan Act
"ARPA will extend [the] tax credits from April 1, 2021, through Sept. 30, 2021, and expand the reasons for which eligible employees can take tax credit-funded EPSLA and EFMLA leaves." MORE >>
Armstrong Teasdale
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[Guidance Overview]
ACA Premium Tax Credit Amounts, Including ARPA Updates (PDF)
15-page chart shows required contribution towards purchase of 2nd lowest cost Silver coverage in Marketplace, based on estimated 2021 household income and size. MORE >>
Kaufman & Canoles, P.C.
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Benefits in General |
[Guidance Overview]
American Rescue Plan Saves Employers from Two Months Without Legislation
"Section 162(m) currently disallows deductions for the CEO, CFO, and top three highest paid officers. The amended section adds the next five highest paid employees to this list.... Several provisions provide funding relief for defined benefit pension plans, particularly for multiemployer plans in financially precarious situations.... Employers that sponsor self-insured plans will need to issue new and revised COBRA notices to subsidy-eligible individuals very quickly." MORE >>
Eversheds Sutherland
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[Guidance Overview]
American Rescue Plan Act Provides COBRA, Pension Funding Relief
"ARPA authorizes payment for premiums arising from COBRA coverage during the period beginning on April 1, 2021, and ending on September 30, 2021. This premium assistance is available only for certain categories of individuals who are enrolled in COBRA coverage during this period." MORE >>
Ascensus
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The 5 Ws of Lifestyle Benefits
"[L]ifestyle benefits are designed to make life outside the workplace more enjoyable, affordable, and balanced. [This article explores] the 5 'Ws' -- Who, What, When, Where, and Why -- of lifestyle benefits to explain how you can use this tool to improve your benefits package[.]" MORE >>
Connect Your Care
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Employee Benefits Jobs |
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Saver Success Specialist
Ubiquity Retirement + Savings
Telecommute / San Francisco CA / AZ / CO / FL / IL / KY / LA / MA / NJ / NV / NY / OH / OR / RI / SC / TN / TX / WA
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Press Releases |
Glen Allen, Va-based TAG Advisors launches one of the first Pooled Employer Plans in the Independent Broker-Dealer space
TAG Advisors
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Last Issue's Most Popular Items |
100 Percent COBRA Subsidy Starts April 1
Segal
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ARPA Provides Full COBRA Subsidies to Involuntarily Terminated Employees
Ice Miller LLP
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Principal Benefit Plan Provisions in the American Rescue Plan Act
The Wagner Law Group
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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.
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